Wednesday, November 20, 2013
90 companies of the world are the major climate criminals. Time to punish them?
For my today's pick section in my blog, I am posting the following link from The Guardian to a very vital news report that shows how the climate crisis of the 21st century has been caused largely by just 90 companies, which between them produced nearly two-thirds of the greenhouse gas emissions generated since the dawning of the industrial age.
Some Key highlights of the report are as follows:
- The companies range from investor-owned firms – household names such as Chevron, Exxon and BP – to state-owned and government-run firms.
- Vast majority of the firms were in the business of producing oil, gas or coal.
- There are thousands of oil, gas and coal producers in the world, but the decision makers, the CEOs, or the ministers of coal and oil if you narrow it down to just one person, they could all fit on a Greyhound bus or two.
- Half of the estimated emissions were produced just in the past 25 years.
- Many of the same companies are also sitting on substantial reserves of fossil fuel which – if they are burned – puts the world at even greater risk of dangerous climate change.
- Between them, the 90 companies on the list of top emitters produced 63% of the cumulative global emissions of industrial carbon dioxide and methane between 1751 to 2010, amounting to about 914 gigatonne CO2 emissions, according to the research. All but seven of the 90 were energy companies producing oil, gas and coal. The remaining seven were cement manufacturers.
In my opinion, these companies should now cough off all their profit in climate change mitigation programmes. They should not be given the free ride over our ecological and mineral resources anymore. And, strong penalties should be imposed upon them for the climate crime they have been freely doing.
Thanks and regards,